BofA Securities purchasers have been modest web sellers of U.S. equities final week, with outflows totaling $0.3 billion, regardless of the S&P 500 gaining 4.0%.
When excluding untagged flows, which aren’t categorized by sector, consumer group, or dimension, there was web shopping for in each particular person shares and fairness exchange-traded funds (ETFs). Whereas small and mid-cap shares skilled outflows, massive caps noticed inflows.
Much like the earlier week, each retail and institutional purchasers have been web sellers, with retail seeing its largest web gross sales since November 2023. Then again, hedge fund purchasers have been small web consumers for the second week in a row.
Shoppers made purchases throughout six of the 11 sectors, with Know-how and Communication Providers main the best way. The latter sector has now seen 24 consecutive weeks of web shopping for.
In distinction, Industrials and Actual Property skilled the biggest outflows, with Industrials seeing outflows in 9 of the final ten weeks and Actual Property for the previous 4 weeks.
Utilities noticed near-record inflows, marking the biggest weekly influx since August 2022 and the fifth-largest on report since 2008. BofA just lately upgraded Utilities to an Obese score.
Within the ETF area, purchasers purchased funds throughout Progress, Worth, and Mix kinds, with Worth sustaining a 26-week shopping for streak.
Massive and small-cap ETFs attracted inflows, whereas mid-cap and broad market ETFs confronted promoting strain.
Much like particular person shares, Industrial ETFs skilled the biggest outflows since January 2019, and Actual Property ETFs noticed their greatest outflows since April after current inflows pushed by personal purchasers. In the meantime, Know-how ETFs recorded the biggest inflows.
Company buybacks picked up tempo, reaching their highest weekly degree since late June. The trailing 52-week buybacks as a share of the S&P 500 market cap hit a report excessive, surpassing 2019 ranges.